Mizuho Increases Consolidated Edison (NYSE:ED) Price Target to $95.00

Consolidated Edison (NYSE:ED) had its target price upped by analysts at Mizuho from $92.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s target price would suggest a potential downside of 0.36% from the company’s current price.

A number of other research analysts have also recently commented on the company. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Barclays reduced their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. Morgan Stanley decreased their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Price Performance

Shares of ED stock traded up $1.61 during trading hours on Monday, reaching $95.35. The stock had a trading volume of 1,497,438 shares, compared to its average volume of 2,430,049. The stock’s fifty day simple moving average is $92.49 and its 200 day simple moving average is $98.14. The firm has a market capitalization of $33.03 billion, a PE ratio of 17.96, a PEG ratio of 2.99 and a beta of 0.39. Consolidated Edison has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, equities research analysts predict that Consolidated Edison will post 5.35 EPS for the current year.

Hedge Funds Weigh In On Consolidated Edison

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in Consolidated Edison during the 3rd quarter valued at $776,000. Pathway Financial Advisers LLC boosted its stake in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after purchasing an additional 24,211 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after buying an additional 3,900 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after buying an additional 217,981 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.